Reply #10: Harry Reid and Barrick Corporation. [View All]

....

And while the Bush family steadfastly believes that ex-felons should not have the right to vote for president, they have no objection to ex-cons putting presidents on their payroll. In 1996, despite pleas by U.S. church leaders, Poppy Bush gave several speeches (he charges $100,000 per talk) sponsored by organizations run by Rev. Sun Myung Moon, cult leader, tax cheat—and formerly the guest of the U.S. federal prison system.

Some of the loot for the Republican effort in the 1997-2000 election cycles came from an outfit called Barrick Corporation. The sum, while over $100,000, is comparatively small change for the GOP, yet it seemed quite a gesture for a corporation based in Canada. Technically, the funds came from those associated with the Canadian’s U.S. unit, Barrick Gold Strike.

They could well afford it. In the final days of the Bush (Senior) administration, the Interior Department made an extraordinary but little noticed change in procedures under the 1872 Mining Law, the gold rush-era act that permitted those whiskered small-time prospectors with their tin pans and mules to stake claims on their tiny plots. The department initiated an expedited procedure for mining companies that allowed Barrick to swiftly lay claim to the largest gold find in America. In the terminology of the law, Barrick could “perfect its patent” on the estimated $10 billion in ore—for which Barrick paid the U.S. Treasury a little under $ 10,000. Eureka!

Barrick, of course, had to put up cash for the initial property rights and the cost of digging out the booty (and the cost of donations, in smaller amounts, to support Nevada’s Democratic senator, Harry Reid). Still, the shift in rules paid off big time: According to experts at the Mineral Policy Center of Washington, DC, Barrick saved—and the U.S. taxpayer lost—a cool billion or so.

more
http://www.gregpalast.com/detail.cfm?artid=207&row=4